Vallianz Holdings has seen its fourth quarter net profit slide over 35% compared to a year ago, figures released Monday show.

The Singapore-listed offshore player posted net income of just over $3m versus the $4.7m seen twelve months earlier.

The company was hit by a near 12% year-on-year decline in revenue to $41.4m, but cost of sales was down 7% to $30.3m.

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